Dallas, TX and Teaneck, NJ — Jan. 16, 2007—Cognizant (NASDAQ: CTSH), a leading provider of global IT services, today announced that it has signed an IT applications outsourcing agreement with Kimberly-Clark Corporation (NYSE: KMB) covering an array of SAP® and customized software applications including strategic planning, product management, supply chain planning and execution, sourcing, sales and marketing, data exchange and compliance, enterprise management and customer management. The agreement has an initial term of five years with additional one-year extension options. Other terms of the agreement were not disclosed.
"We were looking for a partnership that would deliver cost savings via worldwide sourcing and would transform how we deliver IT applications in support of our global business plan." said Ian Maginnis, Kimberly-Clark vice president of business support delivery. "We chose Cognizant as our preferred partner for applications outsourcing due to its track record of global delivery, high standards of customer satisfaction and close cultural fit, in addition to its demonstrated capabilities in driving transformational outsourcing programs."
"We are honored to have the opportunity to work with Kimberly-Clark in a creative partnership arrangement that supports its innovation and transformation objectives," said Francisco D'Souza, Cognizant president and CEO.. "We will leverage our scalable, global IT services delivery model to enable high levels of flexibility and other benefits that will contribute to Kimberly-Clark's worldwide growth agenda."
Under the agreement Cognizant will deliver a broad range of IT applications services to Kimberly-Clark across various locations in North America, Europe, India and Latin America. Cognizant will also leverage its relationship with SAP and experience in delivering large-scale, global SAP applications projects. Through this approach, Cognizant will help Kimberly-Clark transform its IT footprint, reduce costs and drive new IT-based capabilities.
About Kimberly-Clark
Kimberly-Clark Corporation (NYSE: KMB) and its well-known global brands are an indispensable part of life for people in more than 150 countries. Every day, 1.3 billion people – nearly a quarter of the world's population – trust K-C brands and the solutions they provide to enhance their health, hygiene and well-being. With brands such as Kleenex, Scott, Huggies, Pull-Ups, Kotex and Depend, Kimberly-Clark holds No. 1 or No. 2 share positions in more than 80 countries. To keep up with the latest K-C news and to learn more about the company's 134-year history of innovation, visit www.kimberly-clark.com.
About Cognizant
Cognizant (NASDAQ: CTSH) is a leading provider of IT services. Focused on delivering strategic information technology solutions that address the complex business needs of its clients, Cognizant uses its own on-site/offshore outsourcing model to provide applications management, development, integration, and reengineering; infrastructure management; business process outsourcing; and numerous related services, such as enterprise consulting, technology architecture, program management, and change management.
Cognizant has over 38,000 employees who are committed to partnerships that sustain long-term, proven value for customers by delivering high-quality, cost-effective solutions through its development centers in India and on-site client teams. Cognizant maintains P-CMM, SW-CMM and CMMI Maturity Level 5 assessments from an independent third-party assessor and ranked among the top information technology companies in Business Week's Hot Growth Companies. Cognizant is a member of the NASDAQ-100 Index and the S&P 500 Index. Find additional information about Cognizant at www.cognizant.com.
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
